Retrieved from “www.archive.org the complexities of modern business, a single check is seldom cleared. Instead, a multitude of checks and other items are included in each clearing. The term ” to clear,” therefore, takes on a broader meaning, and the only adequate conception of it is afforded by a view of the actual operations of a clear- ing-house, which are set forth in another part of this volume. The word ” clearing ” designates the settlement of bal- ances between banks, arising from the …

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